Fortis Plastics closing Wilmington, Ohio, plant

Published: January 5, 2012 6:00 am ET

Related to this story

Topics Consumer Products, Mergers & Acquisitions, Injection Molding

WILMINGTON, OHIO (Jan. 5, 3:40 p.m. ET) — Fortis Plastics LLC is closing another factory, as news reports said 122 people will lose their jobs when Fortis closes a former Kurz-Kasch thermoset molding plant in Wilmington.

New York private investment group Monomoy Capital Partners LP bought Kurz-Kasch in 2007. Wilmington will be the 10th Fortis plant closing in the last three years.

The company’s misfortunes are shaking up the used-machinery world, as auctioneers will sell more than 130 injection presses and 20 extruders in a series of auctions at four closed Fortis plants from Jan. 17 to Feb. 2.

The Wilmington News Journal, along with local television, reported the plant will close. Officials of Fortis and Monomoy could not be reached for comment.

In other news, reports said another shuttered Fortis plant, in Henderson, Ky., near Evansville, Ind., has a potential buyer. Fortis closed the factory in late 2010, a few months after its major customer, Whirlpool Corp., closed its appliance factory in Evansville.

Quoting a local economic development official at Northwest Kentucky Forward, the Evansville Courier & Press reported Jan. 4 that the building, which has been on the market for about a month, is under contract for a buyer, likely a manufacturing company.

Kwekel Cos., a Grand Rapids, Mich., commercial real estate firm, is listing the 132,000-square-foot factory for sale at $1.57 million.

Officials of Kwekel and Northwest Kentucky Forward did not return telephone calls for this story.

Fortis was formed in 2008 when Monomoy Capital Partners acquired and combined the custom molding divisions of Leggett & Platt Inc. and Atlantis Plastics Inc.

Fortis tied for 13th in the 2010 Plastics News North American injection molders rankings with estimated sales of $280 million.


Comments

Fortis Plastics closing Wilmington, Ohio, plant

Published: January 5, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Magna opens new exterior facility, plans for lighting investment

October 30, 2014 1:36 pm ET

Canadian automotive supplier Magna International Inc. on Oct. 28 opened a new injection molding and robotic paint line facility in Delta Township,...    More

Image

Xten may shut down, working on sale to Commercial Plastics

October 29, 2014 5:49 pm ET

Xten Industries LLC is working on a sale to Commercial Plastics Co. of Mundelein, Ill. Xten, an injection molder based in Kenosha, Wis., filed a...    More

Image

Detroit Manufacturing Systems to hire 200 for F-150 production

October 29, 2014 10:40 am ET

Interior trim supplier Detroit Manufacturing Systems LLC plans to hire 200 assembly workers by January to support production growth of Ford Motor Co....    More

Image

Cosmetic packaging maker expands in China

October 28, 2014 3:32 pm ET

A $180 million expansion project by the Derjin Group of Taiwan has broken ground in China's Jiangsu province.    More

Image

Facing labor shortage, one processor starts its own bus service

October 27, 2014 2:08 pm ET

Like much of the manufacturing industry, Primera Plastics Inc. in Zeeland, Mich., has had trouble finding qualified workers to fill gaps in its staff....    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events